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Canada Pension Plan, Saudi firm leading Glencore unit bids - Bbg

Published 2016-03-04, 09:07 a/m
© Reuters. Canada Pension Plan, Saudi firm leading Glencore unit bids - Bbg
GLEN
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March 4 (Reuters) - Canada Pension Plan Investment Board and
state-owned Saudi Agricultural and Livestock Investment Co are
among the lead bidders for a minority stake in the agriculture
unit of Glencore Plc GLEN.L , Bloomberg reported on Friday.
The firms are presenting final bids for the unit this month
and Glencore is open to selling stakes to more than one party,
Bloomberg reported, citing people with knowledge of the matter.
(http://bloom.bg/1LEeNLy)
Glencore aims to slash net debt to $17-$18 billion by the
end of 2016, $1 billion more than previously planned, by
offloading more assets amid a prolonged commodities rout.

Glencore declined to comment. Canada Pension Plan Investment
Board and Saudi Agricultural and Livestock Investment Co were
not immediately available for comment.

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